FBI coins could sell for a premium - page 4.

jl2012

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Quote from: Elwar on June 13, 2014, 12:17:45 AM

I'm about as big of a bull as anyone but I can see this sale dropping the price by quite a bit in the short term.

They're taking in minimum deposits of $200k selling in 3000 bitcoin blocks.

As they get through the first few millionaires they will have a lot of bitcoins left. Those that only deposit the minimum might be able to get 3000 coins for $200k.

That's less than $70 per coin. I'd sell $200k worth of bitcoin to get in on that deal.

Of course, there's a risk that you pull $200k worth of bitcoins out and pay the taxes on it only to not be able to buy 3000 bitcoins at the auction. You've just fucked yourself.

Read the rules again. They have the right to sell all, some, or none of the bitcoin. The $200k deposit is just to prevent people trolling. They are not obliged to sell at this price

And as this is an open auction, it is extremely unlikely that it will be sold vastly below the spot price. $600*30000=$18M is nothing for real whales

podyx

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There will be many people eager to get their hands on these coins and you reckon they'll sell it on discount? Like a fucking lottery or something or what do you mean?

gentlemand

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Welt Am Draht

There've already been offers to buy the whole lot in one gulp. Whether the folks who publicised the offers go through with it is another matter.

Elwar

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Viva Ut Vivas

I'm about as big of a bull as anyone but I can see this sale dropping the price by quite a bit in the short term.

They're taking in minimum deposits of $200k selling in 3000 bitcoin blocks.

As they get through the first few millionaires they will have a lot of bitcoins left. Those that only deposit the minimum might be able to get 3000 coins for $200k.

That's less than $70 per coin. I'd sell $200k worth of bitcoin to get in on that deal.

Of course, there's a risk that you pull $200k worth of bitcoins out and pay the taxes on it only to not be able to buy 3000 bitcoins at the auction. You've just fucked yourself.

CryptoNames

sr. member

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Quote from: Cubic Earth on June 12, 2014, 08:21:16 PM

For large, conservative investors, this is the first chance to buy bitcoins directly from the U.S. Government. There is an implicit guarantee that the coins to be sold are legal and without any sort of taint, at least in the eyes of the Feds. Also, to many such investors, the U.S. Gvt is the most trusted trading partner possible. They are the most reliable organization to trust wiring millions of dollars to.

Great point. The skeptics are running out of arguments to base their disdain towards the legitimacy of digital currencies.

KLD

newbie

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I remember someone high up in second market talking about this and he mentioned normally for off market deals sellers ask for a premium in an upward market and in a downward market buyers normally get a discount. So I wouldn't exactly get excited. If an new entrants from wall st, not second market, pantera or winkdex Tongue

register to bid then that will be fun to watch

MatTheCat

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^Mental!

Melbustus

legendary

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^ Yup.

Cubic Earth

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For large, conservative investors, this is the first chance to buy bitcoins directly from the U.S. Government. There is an implicit guarantee that the coins to be sold are legal and without any sort of taint, at least in the eyes of the Feds. Also, to many such investors, the U.S. Gvt is the most trusted trading partner possible. They are the most reliable organization to trust wiring millions of dollars to.

The auction is a giant stamp of approval, if not for bitcoin as a whole, than at least for the particular set of coins at auction.

There are obviously reasons why the coins may sell at a discount as well, and I tend to think that is more likely. My guess is there is about a 20% chance the coins will sell over spot. After all, the supply of government-approved bitcoins is very very tiny.

Topic: FBI coins could sell for a premium - page 4. (Read 5901 times)